Chris Cummings, chief executive of the UK Investment Association, and Sally Wong, chief executive officer of the Hong Kong Investment Funds Association, have been elected as chair and deputy chair respectively of the International Investment Funds Association (IIFA) board of directors at the group’s annual general meeting in London at the end of October.
The IIFA is a global organization whose members are primarily national and regional associations representing the investment funds (mutual funds) industry. The current membership comprises 38 national associations and two regional associations which, collectively, have funds under management of US$71.05 trillion at the end of 2021.
The association aims to enhance collaboration among members to foster the growth of the investment funds industry internationally. It provides a global forum for exchanging information and sharing best practices relating to the industry, with the ultimate objective of ensuring that the industry will always serve the best interests of investors.
The association’s 14-member board, led by the chair and deputy chair, sets the strategic direction for IIFA and directs its activities. It consists of representatives from North and South America, Europe, Asia Oceania and Africa, and has a two-year term. The IIFA secretariat is located within the Canadian association, The Investment Funds Institute of Canada, which is based in Toronto.